https://www.taxtmi.com/caselaws?id=412413 A Section 9 Insolvency and Bankruptcy Code petition was held liable to rejection where the record showed a genuine pre-existing dispute before the demand notice. The Tribunal noted that the dispute arose from rejection of a consignment in transit, a police report, and a related claim by the corporate debtor, while the parties' payments were made in consolidated fashion across multiple invoices, indicating a running account rather than isolated transactions. On that basis, the operational creditor failed to establish an undisputed operational debt due in the manner required for admission, and the petition was treated as not maintainable. en-us Thu, 09 Sep 2021 00:00:00 +0530 Fri, 17 Sep 2021 09:21:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412413 A Section 9 Insolvency and Bankruptcy Code petition was held liable to rejection where the record showed a genuine pre-existing dispute before the demand notice. The Tribunal noted that the dispute arose from rejection of a consignment in transit, a police report, and a related claim by the corporate debtor, while the parties' payments were made in consolidated fashion across multiple invoices, indicating a running account rather than isolated transactions. On that basis, the operational creditor failed to establish an undisputed operational debt due in the manner required for admission, and the petition was treated as not maintainable. Case-Laws Insolvency and Bankruptcy Thu, 09 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412413